Transforming India’s wallet landscape: The future of digital wallets with third-party UPI access for PPIs

Ten years ago, India was a cash-driven economy, and digital payments were nascent, mainly restricted to big-ticket cash transfers and online banking transactions. That has changed now. The India digital payments story is a massive success, and the Unified Payments Interface (UPI) has led the way and transformed how Indians transact, making digital payments instant and accessible. It is integrated with multiple digital wallets and banking apps, offering a unified platform for peer-to-peer and merchant transactions.